Muscat: Delivering on its promise of providing banking for the customer’s ever-changing world, Sohar International recently signed a Memorandum of Understanding (MoU) with Al Asool Properties which will ultimately enable the bank’s customers to enjoy preferential housing loan facilities when purchasing property in the developer’s upcoming project – The Pearl Muscat situated at Muscat Hills.

The MoU was signed recently at the bank’s head office at Waterfront in Shatti Al Qurum between Khalil Al Hedaifi, chief retail banking officer, Sohar International, and Hassan Mohammed Juma Al Lawati, managing director of Al Asool Properties with the presence of the senior management of both entities.

Commenting on the sidelines of the signing ceremony, Khalil Al Hedaifi said, “As a world-class Omani services company, we understand the local market requirements and continue to seek opportunities to provide more vision, more value, and more velocity to our customers in everything we do. This MoU enables us to provide preferential rates through the guaranteed assurance of accelerated service to complete the housing loan process within 72 hours thereby providing yet another solution to customers to fulfil and achieve their aspirations of owning a home.”

According to the MoU, Sohar International will extend the Housing Loan Facility with attractive and preferential interest rates to customers and potential property buyers. With finance facility up to 80% of the property value, Sohar Housing Loan Home Solutions offers the lowest interest rates and insurance premium with the lowest monthly instalments making them one of the most attractive offers available in the market.

Al Lawati said: “The Pearl Muscat was designed keeping in mind the demand for premium properties within the country as well as developing potential key locations within the vicinity. Located at Muscat Hills, the project is a jewel of destination offering a wealth of visible history to explore, the exotic landscape for a harmonious blend of vibrant ancient tradition with cutting-edge modern luxuries. We are proud to partner with Sohar International as we believe their products and service offerings will ease the process of integration to the best of customer needs.”

The property was developed with an idea to fulfil the continuous demand for Class-A residential units for customers to own freehold properties and developing the prestigious premium integrated tourism complex project at the Boulevard-Muscat hills area. Customers can avail housing loans for the luxurious 1, 2 & 3-bedroom apartments available in the mixed-use development. The project also consists of a variety of commercial retail spaces on the ground floor with residential apartments on other floors. The residential units have a spectacular view from the flats viz. Boulevard, Golf course and Swimming pool view. The project also provides several recreational facilities such as dedicated adult and kid’s swimming pool, garden play area, and a jogging track.

It is important to note that Sohar International also offers additional features when it comes to Housing Finances such as Joint Borrower facility, Loan tenor up to 25 years, Grace period up to 18 months, and Life insurance coverage options. With various such new offerings, Sohar International has been actively providing more innovative propositions to cater to customers’ evolving needs.